New data from the Australian Bureau of Statistics (ABS) shows Victoria experienced the largest growth in September 2017 among all mainland states for non‑residential building approvals – more than 35 per cent – indicating that Victoria’s dynamic economy continues to generate robust business activity across the state.
Overall, the total value of Victorian building approvals in September 2017 increased by 14.5 per cent to $3.49 billion.
Over 2017, the total value of Victorian building approvals is up 2.3 per cent, compared to a national decline of 9.5 per cent during the same period.
Treasurer, Tim Pallas, said, “These figures show our dynamic economy continues to generate real jobs for Victorians, with more than 280,000 jobs created since the Andrews Labor Government was elected.
“Victoria’s surging international trade is a direct reflection of our global standing as a world-class producer of export goods.
“Today’s data means more job opportunities, as well as continued business growth and sustainability.”
The strong building data coincides with the release of the latest international trade figures from the ABS, which shows Victoria’s exports of goods increased by more than 12 per cent over the year to $2.23 billion.
In total, Victorian exports during the year were worth $25.5 billion.